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Side-by-side financial comparison of CMS Energy (CMS) and Fidelity National Information Services (FIS). Click either name above to swap in a different company.
Fidelity National Information Services is the larger business by last-quarter revenue ($2.8B vs $2.1B, roughly 1.3× CMS Energy). Fidelity National Information Services runs the higher net margin — 18.2% vs 13.5%, a 4.6% gap on every dollar of revenue. On growth, CMS Energy posted the faster year-over-year revenue change (13.0% vs 8.1%). Over the past eight quarters, Fidelity National Information Services's revenue compounded faster (6.8% CAGR vs -0.2%).
CMS Energy Corporation is an American energy company based in Jackson, Michigan, that is focused principally on utility operations in Michigan. Its principal business is Consumers Energy, a public utility that provides electricity and natural gas to more than 6 million of Michigan's 10 million residents. Its non-utility businesses are focused primarily on domestic independent power production. Consumers Energy has operated since 1886.
Fidelity National Information Services, Inc. (FIS) is an American multinational corporation which offers a wide range of financial products and services. FIS is most known for its development of Financial Technology, or FinTech. Annually, FIS facilitates the movement of roughly US$9 trillion through the processing of approximately 75 billion transactions in service to more than 20,000 clients around the globe.
CMS vs FIS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $2.8B |
| Net Profit | $289.0M | $511.0M |
| Gross Margin | — | 38.3% |
| Operating Margin | 20.4% | 18.8% |
| Net Margin | 13.5% | 18.2% |
| Revenue YoY | 13.0% | 8.1% |
| Net Profit YoY | 9.1% | 97.3% |
| EPS (diluted) | $0.94 | $0.98 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.1B | $2.8B | ||
| Q3 25 | $2.0B | $2.7B | ||
| Q2 25 | $1.8B | $2.6B | ||
| Q1 25 | $2.4B | $2.5B | ||
| Q4 24 | $1.9B | $2.6B | ||
| Q3 24 | $1.7B | $2.6B | ||
| Q2 24 | $1.6B | $2.5B | ||
| Q1 24 | $2.1B | $2.5B |
| Q4 25 | $289.0M | $511.0M | ||
| Q3 25 | $277.0M | $264.0M | ||
| Q2 25 | $201.0M | $-470.0M | ||
| Q1 25 | $304.0M | $77.0M | ||
| Q4 24 | $265.0M | $259.0M | ||
| Q3 24 | $253.0M | $224.0M | ||
| Q2 24 | $198.0M | $243.0M | ||
| Q1 24 | $287.0M | $724.0M |
| Q4 25 | — | 38.3% | ||
| Q3 25 | — | 37.8% | ||
| Q2 25 | — | 36.4% | ||
| Q1 25 | — | 34.7% | ||
| Q4 24 | — | 36.9% | ||
| Q3 24 | — | 38.0% | ||
| Q2 24 | — | 38.2% | ||
| Q1 24 | — | 37.1% |
| Q4 25 | 20.4% | 18.8% | ||
| Q3 25 | 24.4% | 16.8% | ||
| Q2 25 | 17.6% | 15.6% | ||
| Q1 25 | 20.6% | 13.7% | ||
| Q4 24 | 22.5% | 18.5% | ||
| Q3 24 | 21.4% | 19.1% | ||
| Q2 24 | 18.0% | 15.2% | ||
| Q1 24 | 19.2% | 14.6% |
| Q4 25 | 13.5% | 18.2% | ||
| Q3 25 | 14.0% | 9.7% | ||
| Q2 25 | 11.2% | -18.0% | ||
| Q1 25 | 12.7% | 3.0% | ||
| Q4 24 | 14.0% | 10.0% | ||
| Q3 24 | 14.8% | 8.7% | ||
| Q2 24 | 12.6% | 9.8% | ||
| Q1 24 | 13.4% | 29.3% |
| Q4 25 | $0.94 | $0.98 | ||
| Q3 25 | $0.92 | $0.50 | ||
| Q2 25 | $0.66 | $-0.90 | ||
| Q1 25 | $1.01 | $0.15 | ||
| Q4 24 | $0.88 | $0.51 | ||
| Q3 24 | $0.84 | $0.41 | ||
| Q2 24 | $0.65 | $0.44 | ||
| Q1 24 | $0.96 | $1.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $509.0M | $599.0M |
| Total DebtLower is stronger | — | $9.1B |
| Stockholders' EquityBook value | $9.1B | $13.9B |
| Total Assets | $39.9B | $33.5B |
| Debt / EquityLower = less leverage | — | 0.65× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $509.0M | $599.0M | ||
| Q3 25 | $362.0M | $571.0M | ||
| Q2 25 | $844.0M | $581.0M | ||
| Q1 25 | $465.0M | $805.0M | ||
| Q4 24 | $103.0M | $834.0M | ||
| Q3 24 | $412.0M | $1.3B | ||
| Q2 24 | $699.0M | $2.1B | ||
| Q1 24 | $802.0M | $3.3B |
| Q4 25 | — | $9.1B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.9B | ||
| Q1 25 | — | $8.7B | ||
| Q4 24 | — | $9.7B | ||
| Q3 24 | — | $10.5B | ||
| Q2 24 | — | $10.6B | ||
| Q1 24 | — | $10.6B |
| Q4 25 | $9.1B | $13.9B | ||
| Q3 25 | $8.9B | $13.9B | ||
| Q2 25 | $8.4B | $14.2B | ||
| Q1 25 | $8.3B | $15.1B | ||
| Q4 24 | $8.2B | $15.7B | ||
| Q3 24 | $8.1B | $16.6B | ||
| Q2 24 | $8.0B | $17.0B | ||
| Q1 24 | $7.9B | $18.0B |
| Q4 25 | $39.9B | $33.5B | ||
| Q3 25 | $38.0B | $33.0B | ||
| Q2 25 | $37.7B | $33.4B | ||
| Q1 25 | $36.3B | $32.8B | ||
| Q4 24 | $35.9B | $33.8B | ||
| Q3 24 | $34.8B | $34.3B | ||
| Q2 24 | $34.4B | $34.6B | ||
| Q1 24 | $33.9B | $35.9B |
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 0.64× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | — | 0.62× | ||
| Q3 24 | — | 0.63× | ||
| Q2 24 | — | 0.62× | ||
| Q1 24 | — | 0.59× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $478.0M | $758.0M |
| Free Cash FlowOCF − Capex | — | $739.0M |
| FCF MarginFCF / Revenue | — | 26.3% |
| Capex IntensityCapex / Revenue | — | 0.7% |
| Cash ConversionOCF / Net Profit | 1.65× | 1.48× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $478.0M | $758.0M | ||
| Q3 25 | $343.0M | $1.0B | ||
| Q2 25 | $414.0M | $382.0M | ||
| Q1 25 | $1.0B | $457.0M | ||
| Q4 24 | $403.0M | $782.0M | ||
| Q3 24 | $304.0M | $641.0M | ||
| Q2 24 | $707.0M | $546.0M | ||
| Q1 24 | $956.0M | $206.0M |
| Q4 25 | — | $739.0M | ||
| Q3 25 | $-635.0M | $952.0M | ||
| Q2 25 | $-470.0M | $343.0M | ||
| Q1 25 | $112.0M | $420.0M | ||
| Q4 24 | — | $764.0M | ||
| Q3 24 | $-502.0M | $605.0M | ||
| Q2 24 | $26.0M | $530.0M | ||
| Q1 24 | $343.0M | $179.0M |
| Q4 25 | — | 26.3% | ||
| Q3 25 | -32.2% | 35.0% | ||
| Q2 25 | -26.1% | 13.1% | ||
| Q1 25 | 4.7% | 16.6% | ||
| Q4 24 | — | 29.4% | ||
| Q3 24 | -29.3% | 23.5% | ||
| Q2 24 | 1.6% | 21.3% | ||
| Q1 24 | 16.0% | 7.3% |
| Q4 25 | — | 0.7% | ||
| Q3 25 | 49.5% | 2.2% | ||
| Q2 25 | 49.2% | 1.5% | ||
| Q1 25 | 37.0% | 1.5% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | 47.1% | 1.4% | ||
| Q2 24 | 43.2% | 0.6% | ||
| Q1 24 | 28.6% | 1.1% |
| Q4 25 | 1.65× | 1.48× | ||
| Q3 25 | 1.24× | 3.83× | ||
| Q2 25 | 2.06× | — | ||
| Q1 25 | 3.29× | 5.94× | ||
| Q4 24 | 1.52× | 3.02× | ||
| Q3 24 | 1.20× | 2.86× | ||
| Q2 24 | 3.57× | 2.25× | ||
| Q1 24 | 3.33× | 0.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CMS
| Electric Utility | $1.3B | 59% |
| Gas Utility | $803.0M | 38% |
| North Star Clean Energy | $77.0M | 4% |
FIS
| Banking Solutions | $1.6B | 57% |
| Other | $701.0M | 25% |
| Capital Market Solutions | $508.0M | 18% |
